Monday, July 2, 2012
The torrid pace has mellowed
There were 310 sales in June with 37 above a million dollars. This represents a 14% sales volume decline from a year ago when there were 354 sales but beats the 270 sales for June 2010. So not bad. Also prices were up year over year. The average sale price for a detached 2 storey home was $840,000 compared to $769,000 in June 2011. The $840,000 is actually $910,000 if you include the 1 acre custom estate home sale w/infinity pool which sold for $10,500,000.
The average price for all types of housing was $695,000. The cheapest 2-storey home was $440,000. It took 30 days to sell on average, almost a week longer than a year ago.
There were 85 rental sales. 20 of those were for condo apartments which rented between $1,200 & $2,600/mth.
Borrowing costs remain low and are forecasted to stay low through to the first quarter of 2013. So we should have a strong fall market as long as the global financial leaders continue to find solutions for those countries in need.
The average price for all types of housing was $695,000. The cheapest 2-storey home was $440,000. It took 30 days to sell on average, almost a week longer than a year ago.
There were 85 rental sales. 20 of those were for condo apartments which rented between $1,200 & $2,600/mth.
Borrowing costs remain low and are forecasted to stay low through to the first quarter of 2013. So we should have a strong fall market as long as the global financial leaders continue to find solutions for those countries in need.
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